AQR Capital Management LLC Buys 217,978 Shares of Freshworks Inc. $FRSH

Key Points

• AQR Capital Management LLC increased its stake in Freshworks Inc. by 110.3%, owning 415,585 shares worth approximately $5.86 million after acquiring an additional 217,978 shares.
• Multiple hedge funds have adjusted their holdings in Freshworks, with Ameriprise Financial Inc. and Ensign Peak Advisors Inc. increasing their positions by 34.9% and 81.6% respectively.
• Freshworks reported a 19.6% year-over-year increase in revenue for the last quarter, achieving $204.68 million and earnings per share of $0.18, exceeding analysts' expectations.

AQR Capital Management LLC lifted its holdings in shares of Freshworks Inc. (NASDAQ:FRSH - Free Report) by 110.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415,585 shares of the company's stock after buying an additional 217,978 shares during the quarter. AQR Capital Management LLC owned about 0.14% of Freshworks worth $5,864,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Freshworks by 2,786.7% during the 1st quarter. Principal Financial Group Inc. now owns 512,875 shares of the company's stock worth $7,237,000 after buying an additional 495,108 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Freshworks by 2.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,642,290 shares of the company's stock worth $23,173,000 after buying an additional 32,333 shares during the period. Deutsche Bank AG grew its position in shares of Freshworks by 15.8% during the 4th quarter. Deutsche Bank AG now owns 513,810 shares of the company's stock worth $8,308,000 after buying an additional 70,001 shares during the period. Pier 88 Investment Partners LLC acquired a new position in Freshworks during the first quarter valued at approximately $675,000. Finally, WCM Investment Management LLC acquired a new position in Freshworks during the first quarter valued at approximately $13,426,000. Institutional investors and hedge funds own 75.58% of the company's stock.

Freshworks Trading Up 3.5%

Freshworks stock traded up $0.45 during trading hours on Thursday, reaching $13.17. 5,105,485 shares of the stock were exchanged, compared to its average volume of 3,674,877. The company has a market cap of $3.84 billion, a P/E ratio of -73.16 and a beta of 0.94. Freshworks Inc. has a twelve month low of $10.81 and a twelve month high of $19.77. The stock has a 50 day moving average of $13.39 and a two-hundred day moving average of $14.20.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. The firm had revenue of $204.68 million for the quarter, compared to the consensus estimate of $198.85 million. During the same period in the prior year, the company posted $0.08 earnings per share. The business's revenue for the quarter was up 19.6% on a year-over-year basis. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. On average, analysts expect that Freshworks Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Freshworks

In related news, insider Mika Yamamoto sold 4,289 shares of Freshworks stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $13.18, for a total transaction of $56,529.02. Following the sale, the insider directly owned 533,993 shares in the company, valued at $7,038,027.74. This trade represents a 0.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer H. Taylor sold 4,685 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $12.96, for a total transaction of $60,717.60. Following the transaction, the director owned 44,218 shares of the company's stock, valued at approximately $573,065.28. The trade was a 9.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,771 shares of company stock worth $1,139,991 over the last quarter. Insiders own 11.17% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on FRSH shares. Cantor Fitzgerald upgraded shares of Freshworks to an "overweight" rating and set a $20.00 price objective for the company in a report on Tuesday, June 3rd. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price objective on shares of Freshworks in a research report on Friday, September 12th. Robert W. Baird cut their price objective on shares of Freshworks from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday. Wall Street Zen lowered shares of Freshworks from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 23rd. Finally, Piper Sandler lifted their target price on Freshworks from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.

Freshworks Company Profile

Freshworks Inc, a software development company, provides software-as-a-service products worldwide. It offers Freshworks Customer Service Suite, which provides automated, personalized self-service on various channels, including web, chat, mobile messaging, email, and social; Freshdesk, a ticketing-centric customer service solution; Freshsuccess, a customer success solution; and Freshchat that provides agents with a modern conversational experience to proactively engage customers across digital messaging channels.